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Some are predicting prices to depreciate by 20%, while others are forecasting smaller declines, and few are calling for an increase in prices. The low inventory that is available for sale is what is preventing house prices from a steep decline. Higher mortgage rates have impacted demand, but have also frozen up supply.
Where is the housing market headed in 2023? Read More »
The real estate market is rebalancing as supply and demand are adjusting to the higher mortgage rate environment. An increasing number of prospective homebuyers have found that their dream homes have been pulled out of reach as mortgage rates climb…
The real estate market is rebalancing as supply and demand are adjusting to the higher mortgage rate environment. An increasing number of prospective homebuyers have found that their dream homes have been pulled out of reach as mortgage rates climb…
Buy now or later? A prospective homebuyers’ dilemma Read More »
One of the mortgage industry’s biggest challenges is identifying and preventing potential racial bias in the home valuation process. This report analyzes home valuation data in minority communities in the following cities: Chicago, Atlanta, Houston, Los Angeles, Philadelphia
Veros Economists find no evidence of racial bias in its AVM Read More »
The housing market cool-off started as mortgage rates started to climb at the beginning of 2022. The 30-year fixed mortgage rate is now close to 7%, a level last seen in the early 2000s. Affordability constraints cooled down demand significantly, ending the housing market frenzy seen in 2020-21.
A look at the housing market cool-off beyond existing supply and demand Read More »
Pending listings declined over Q3 2022 in the highlighted markets, but the extent of the decline varied regionally. Salt Lake City, UT and Las Vegas, NV witnessed the sharpest declines of 24.3% and 22.4% respectively from June to September, while in San Diego, CA the decline was less than 10%.
After two years of rapidly rising prices, the housing market seems to have lost steam. There is widespread expectation that the U. S. will fall into recession as the Fed continues to raise interest rates. The following indicators also confirm that the trend in the housing market has shifted.
The results revealed no evidence of racial basis in the VeroVALUE AVM.
“We found that the proportion of properties that are undervalued by 15% or more is not correlated with the proportion of Black, Hispanic, Asian, or White populations,” said Eric Fox, Veros Real Estate Solutions Chief Economist. “This is crucial because it addresses concerns about undervaluations of minority-owned properties.”
Automated Valuation Models Can Help Identify Home Appraisal Bias in Minority Communities Read More »
The data suggests that while some first-time homebuyers are getting priced out of the housing market due to affordability, prices are being driven by demand from repeat and all-cash buyers as they compete for a low supply of homes.
The recent hot housing market has led to a sharp rise in single-family home investor purchases. The large increases experienced in the housing market have made single-family homes a quality investment that can produce yearly returns higher than those seen in the stock market. Investor Purchase Percentage usually hits its peak from December to February,
Corporate Investor Home Purchases are at the Highest Levels in a Decade Read More »
